Polkadot has achieved a significant milestone, surpassing all previous records with over 600,000 active addresses on its blockchain by the end of March. This information was provided by DotLake in an X post on April 7. Out of the 605,000 addresses, an impressive 248,000, or more than 41%, are associated with the cross-chain smart contract platform Moonbeam. Additionally, 191,000 addresses were generated directly on the Polkadot platform itself.
Furthermore, the number of unique accounts with balances greater than zero has also seen positive growth. At the end of March, there were more than 5.59 million accounts, up from 5.53 million in February.
However, despite these achievements, the network’s transaction volume remains relatively low. In March, Polkadot recorded a total of 11.58 million monthly transactions, slightly higher than April’s 10.8 million but significantly lower than December 2023’s 31.78 million.
In terms of market performance, Polkadot’s native token, DOT, has shown a 4.68% increase in the last 24 hours according to CoinMarketCap data. It is currently trading at $8.99. Nevertheless, DOT has experienced a significant decline of 83% from its all-time high of $55 in November 2021.
In an attempt to capitalize on the memecoin trend and attract new users to the blockchain, the Polkadot community created its own memecoin called DOT is $DED (DED). This memecoin gained popularity on X starting from March 23. For every one DOT token owned by Polkadot investors, 36 DED tokens were made available. However, the team made a decision to reduce the initial airdrop allocation from 100% to 5% of the token supply, which disappointed some retailers.
In other crypto news, there is speculation about whether Ethereum (ETH) can surpass the $4,000 mark following the Bitcoin halving.